Monday, February 03, 2014

In a previous report, I reviewed the high points of a recent report featuring details on the cost of home improvement projects drawn from a statistical model developed by NAHB, using data from the HUD/Census Bureau American Housing Survey.

That model indicated the median level of spending on improvements nationally is $1,400 per owner-occupied home, ranging as high as $5,000 in particular cases based on regional socio-economic factors.

So what kind of home improvements can an average consumer get for around $1,400?

A 2014 Remodeling survey of top home improvement trends and ROI, (remodeling.hw.net) says a homeowner can spend about $1,524 and recoup almost 84 percent of that cost replacing their garage door.

The report uses the following project criteria to base its cost:

• Remove and dispose of existing 16x7-foot garage door and tracks.

• Install new 4-section garage door on new galvanized steel tracks; reuse existing motorized opener.

• New door is uninsulated, single-layer, embossed steel with two coats of baked-on paint, galvanized steel hinges, and nylon rollers.

• New door covered by 10-year limited warranty.

The only lower cost project a homeowner might consider with a whopping 96.6 percent return is a steel entry door replacement - price tagged in the survey at about $1,100.

Then consider using the balance to convert your entire home to energy efficient light bulbs.

A report by the National Association of Realtors indicates that when it comes to artificial light, most contractors recommend switching burned-out bulbs to LEDs, which last longer than incandescents, consume less energy, and have come down in price — now often just $10.

The quality of LEDs has improved, the report states, and they’re dimmable and available in colors. Since the average U.S. household has more than 40 sockets for light bulbs, according to energystar.gov, that should put you just over your $1,400 budget.

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